India Tata Steel and Government Searches

global supply chain: As the government searches for a new buyer, some of Tata customers are already looking for new sources of steel which is used in everything from car roofs to Heinz baked bean cans, cladding on Ikea buildings and some of the country coins, according to Euro News. While bigger names have the luxury of a global supply chain to fall back on, smaller companies – which account for around 95 percent of British manufacturing firms – face a tougher task if Port Talbot in south Wales closes. India Tata Steel, Britain biggest producer, put all of its operations up for sale, including the country largest steelworks at Port Talbot which is losing $1.4 million a day due to depressed steel prices and high costs. Tata sells around half of its products into the domestic market, the firm said in 2014. Looking abroad for steel would leave firms like QRL that use British steel exposed to swings in the currency exchange rate and higher transportation costs. It would be entirely undesirable from my point of view, said Tony Mullins, executive chairman of QRL Radiators Group, a Tata Steel customer that makes heating radiators near the Welsh town of Newport, employing around 150 staff. (news.financializer.com). As reported in the news.